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Thursday, July 17, 2014

SBI Banking & Financial Services Fund files offer document with Sebi

An open-ended sector fund 

SBI Mutual Fund has filed offer document with Sebi to launch SBI Banking & Financial Services Fund, an open-ended sector fund. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The investment objective of the scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services.
Options/plans: Growth and dividend (reinvestment, payout & transfer) options under both regular plan and direct plan. 

Benchmark: S&P BSE Bankex 

Entry Load - Not Applicable 

Exit Load -
For exit within one year from the date of allotment -1%
For exit after one year from the date of allotment - Nil 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 80-100% in equity and equity related securities of companies engaged in banking & financial services and up to 20% in debt and money market instruments. 

Exposure to derivatives may be to the extent of 50% of the net assets. 

Cumulative gross exposure through debt, equity & derivative position shall not exceed 100% of the net assets of the scheme. Exposure to securitized debt may be to the extent of 20% of the net assets. 

The scheme shall not invest in ADR/ GDR/ foreign securities/Foreign securitized debt. 

The scheme shall not invest in repo in corporate debt. 

The scheme shall not engage in short selling and securities lending 

Fund Manager: Sohini Andani
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